Retirement plan

SEVEN SEVENTEEN CREDIT UNION, INC. 401(K) SAVINGS PLAN FOR SALARIED EMPLOYEES

Name: SEVEN SEVENTEEN CREDIT UNION, INC. - SEVEN SEVENTEEN CREDIT UNION, INC. 401(K) SAVINGS PLAN FOR SALARIED EMPLOYEES (2024) Form 5500
Creator: SEVEN SEVENTEEN CREDIT UNION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SEVEN SEVENTEEN CREDIT UNION, INC. 401(K) SAVINGS PLAN FOR SALARIED EMPLOYEES, SEVEN SEVENTEEN CREDIT UNION, INC.

SEVEN SEVENTEEN CREDIT UNION, INC.EIN 34-0825325Plan #003PY 2024

3181 LARCHMONT AVENUE, N.E. - WARREN, OH 44483330-372-8109

Other plans on this EIN

1 filing

#002Retirement-$18.1M assets

Prospect flagsHigh feesHigh assets / participantFailed to transmit contributions

Top hat statement on fileNQDC

Filed April 9, 2009 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$39.7M

+9.3% from 2023

Total participants

157

-7.1% from 2023

Average account balance

$261,366

+21.6% from 2023

Annual return

16.15%

-5.12 pp from 2023

Benchmarks

See 2,173 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,173 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$39.73M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$261K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

152

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

96.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.34M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$24K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+16.15%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$367

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
NEARMAN MAYNARD VALLEZ CPAS3 years Filed as: NEARMAN MAYNARD VALLEZ CPAS P A Service code 99 · EIN 33-3000333	Other Fees	$15,814
FIDELITY INVESTMENTS INSTITUTIONAL1 year Service code 37 · EIN 04-2647786	Loan Processing	$12,441
CBIZ RETIREMENT PLAN SERVICES1 year Filed as: CBIZ BENEFITS & INSURANCES SERVICES Service code 49 · EIN 31-1582098	Other Services	$5,888

Plan features & details

Pension benefit codes2A2E2F2G2J2K2S2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$56K

$401 / participant

Recordkeeping$33K59.0%
Investment mgmt$17K30.4%
Other / not subdivided$6K10.6%

% of EOY assets

0.140%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DOEREN MAYHEW ASSURANCE
Auditor EIN: 382492570
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$261,366

$122,063+114.1%

$184,256+41.8%

$74,478+250.9%

Participation rate

96.4%

85.5%+10.9pp

86.8%+9.6pp

67.2%+29.2pp

Annual return

16.15%

19.92%-3.8pp

28.85%-12.7pp

1370.56%-1354.4pp

Employer contribution / active EE

$15,132

$4,539+233.4%

$6,427+135.4%

$2,626+476.2%

Participant deferral / active EE

$8,915

$7,144+24.8%

$9,133-2.4%

$4,350+104.9%

Admin fee / account holder

$367

$1,253-70.7%

$13,899-97.4%

$1,946-81.1%

Provider

Service type

Compensation

NEARMAN MAYNARD VALLEZ CPAS3 years

Filed as: NEARMAN MAYNARD VALLEZ CPAS P A

Service code 99 · EIN 33-3000333

Other Fees

$15,814

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Service code 37 · EIN 04-2647786

Loan Processing

$12,441

CBIZ RETIREMENT PLAN SERVICES1 year

Filed as: CBIZ BENEFITS & INSURANCES SERVICES

Service code 49 · EIN 31-1582098

Other Services

$5,888

SEVEN SEVENTEEN CREDIT UNION, INC. 401(K) SAVINGS PLAN FOR SALARIED EMPLOYEES

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SEVEN SEVENTEEN CREDIT UNION, INC. 401(K) SAVINGS PLAN FOR SALARIED EMPLOYEES

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion